Petroleum and Natural Gas Minister Hardeep Singh Puri on Thursday said there is no fuel shortage in the country and that India has sufficient crude oil. Asserting that India’s crude supply position is secure, the Union Minister urged people not to spread rumours and avoid creating fake narratives.ย ย
“The world has not faced a moment like this in modern energy history. India’s crude supply position is secure, and the secured volume exceeds what Hormuz would have delivered. Before the crisis, approximately 45 per cent of India’s crude imports transited through the Strait of Hormuz route. Thanks to the Prime Minister’s outstanding diplomatic outreach and goodwill, India has secured crude volumes that exceed what the disrupted Strait of Hormuz could have delivered in the same period,” he said.
According to Puri, India is not impacted by the closure of the Strait of Hormuz as the non-Hormuz sourcing has risen to approximately 70 per cent of crude imports, higher than 55 per cent before the US-Israel-Iran war.
“Non Hormuz sourcing has risen to approximately 70 per cent of crude imports, up from 55 per cent before the conflict began. India’s sources grew from 40 countries as against 27 in 2006 and 2007. This structural diversification built through sustained policy over successive years has given us options that other nations find themselves without. The refineries are operating at high capacity utilisation. In several cases, they are exceeding 100 per cent,” Puri said.ย ย